Pandora reports 2015 preliminary revenue of £1.6 billion

Based on the preliminary reporting, Pandora’s revenue for 2015 increased approximately 40% compared to 2014 to DKK 16.7 billion (£1.6bn), which compares to a financial guidance of above DKK 16 billion (1.5bn).

The increase includes tailwind from foreign exchange rates of around 11%, compared to a tailwind of around 10% anticipated in November 2015 in connection with the announcement of the Q3 2015 report.

All geographic regions contributed with double digit growth in local currency in the fourth quarter, primarily driven by better than expected Christmas sales.

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Other financial guidance remains unchanged. Pandora continues to expect an EBITDA margin around 37%. CAPEX is expected to be approximately DKK 1,000 million (£99.7 million) and the tax rate is expected to be 30%.

The Annual Report 2015 will be released on 9 February 2016, where executive management will elaborate further on the results.